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Posts Tagged ‘bank boards of directors’

Simon Johnson: Financial Power Corrupts System

Posted by Larry Doyle on May 23rd, 2013 9:05 AM |

Incestuous activity in every fashion is a destructive and corruptible force. Would anybody hoping to be regarded as a serious, credible individual dare say, “Hey, I think incestuous activity is actually pretty good.”

Certainly not, although those engaged in the behaviors may appreciate the benefits that accrue to them without wanting them brought to light.

On that  note, the incestuous dynamic that defines the Wall Street-Washington-Regulatory menage-a-trois continues to thrive. You don’t have to take my word for it. Let’s listen to what Simon Johnson, former chief economist of the IMF, professor at MIT Sloan, and a senior fellow at the Peterson Institute for International Economics has to say on this topic.  (more…)






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